Pictet Asset Management Holding SA Increases Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Pictet Asset Management Holding SA boosted its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,883,354 shares of the company’s stock after purchasing an additional 215,895 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Olema Pharmaceuticals were worth $10,980,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $30,000. Teacher Retirement System of Texas acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $60,000. Vontobel Holding Ltd. purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth approximately $62,000. Fox Run Management L.L.C. acquired a new position in Olema Pharmaceuticals in the 4th quarter valued at $80,000. Finally, SG Americas Securities LLC lifted its holdings in Olema Pharmaceuticals by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 17,475 shares of the company’s stock valued at $102,000 after purchasing an additional 4,419 shares in the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

Olema Pharmaceuticals Trading Down 0.3 %

Shares of OLMA stock opened at $3.33 on Thursday. Olema Pharmaceuticals, Inc. has a twelve month low of $3.28 and a twelve month high of $16.62. The company’s 50-day moving average price is $4.86 and its 200-day moving average price is $7.87. The stock has a market cap of $227.55 million, a price-to-earnings ratio of -1.52 and a beta of 2.11.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.12. As a group, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was bought at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the purchase, the insider now directly owns 7,800,000 shares in the company, valued at $44,928,000. This represents a 4.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 19.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

OLMA has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer reiterated an “outperform” rating and issued a $25.00 price objective (down previously from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, March 28th.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women’s cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.